Finance Act 2012 (c. 14)

PART 2 U.K. Insurance companies carrying on long-term business

CHAPTER 2 U.K. Charge to tax on I - E basis etc

BLAGAB taxed on I - E basis U.K.

68 Charge to tax on I - E profit U.K.

(1) The charge to corporation tax applies to the I - E profit of the basic life assurance and general annuity business carried on by an insurance company.

(2) For the meaning of “I - E profit”, see section 73.